USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.02% | -2.3 Pips |  |
||
| Week to-date | -0.16% | -22.3 Pips | |
||
| March | 0.05% | 6.6 Pips |  |
||
Upcoming key events (London Time)
Thu 12:30 PM USD GDP Annualized
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in January dropped to -0.1% compared to previous figure 0.1% in December 🇺🇸 U.S. Durable Goods Orders in February rose to -6.1% compared to previous figure -6.9% (revised from -6.1%) Source: Census Bureau 🇺🇸 U.S. New-Home Sales Change (1-mth) in February dropped to -0.3% compared to previous figure 1.7, revised from 1.5% in January
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What can we expect from USDCAD today?
USDCAD on Tuesday dropped -0.02% to 1.35837. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35576 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35906 or trades above daily pivot 1.35741. Break above could target R1 at 1.36002. While to the downside, we are looking at 1.35576 (S1) and daily low of 1.35480 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.35480 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.36428 |
| R2 | 1.36167 |
| R1 | 1.36002 |
| Daily Pivot | 1.35741 |
| S1 | 1.35576 |
| S2 | 1.35315 |
| S3 | 1.3515 |
